German company ZF started construction of a factory in Pančevo

German company ZF started construction of a factory in Pančevo

German company ZF started construction of a factory in Pančevo. On Thursday, June 21, a ceremony of laying down a time capsule marked the beginning of construction of a new ZF factory for manufacture of electric and hybrid car parts in the North Industrial Zone of Pančevo.

“This factory of ZF company in Pančevo, for which we broke ground today, is the biggest production investment in Serbia, worth over 160 million euro, that will employ about 1000 people. We have been hoping for such an investment for a long time. We are already discussing the possibility of employing additional 100 people in a ZF Research and Development Centre, here in Pančevo, after the first production plant is finished. ZF is not a cheap spare parts factory, it is a factory of the future. This investment is a game changer for Pančevo, Banat and Serbia. We invite ZF and other German companies to invest in Serbia and promise to provide them with the best investment environment”, said the President of the Republic of Serbia, Mr. Aleksandar Vučić.

President of the Government of Autonomous Province of Vojvodina, Mr. Igor Mirović stated it was a great day for the City of Pančevo, Vojvodina and Serbia that a global leader in the manufacture of components for automotive industry which operates in 40 countries across the world, has finally arrived in our country. German companies currently employ almost 18000 people in Vojvodina.

His Excellency, Ambassador of the Federal Republic of Germany in Belgrade, Mr. Axel Dittmann, said that he was very pleased with constant improvement of German-Serbian economic relations and that Germany will continue to support Serbia and be its reliable partner on its road of accession to EU.

Mr. Hankel from the ZF Board of Management said that the factors that decided their company for this location were many, like excellent infrastructure, available area for additional expansion, excellent access routes and vicinity of Belgrade. He expresses his thanks to all stakeholders for excellent cooperation.

Mr. Grotendorst, Head of ZF Division E-Mobility explained that the success and future of the electric motors is guaranteed, market ensured and that soon they will have produced half a million of electric car motors, contributing to global reduction of carbon footprint. Production in the Pančevo plant is planned to start in the summer 2019.

“Today we have the opportunity to see the first effects of our efforts. I am especially pleased to say that in coordination with the Cabinet of the President, Development Agency of Serbia and ZF, our local administration has managed to complete all formal steps and issue the building permit in record time. City of Pančevo will have an increase of 1,5 million EUR in public revenue over 5 years, based on this investment. Other benefits include opening of the Research and Development Centre in Pančevo, development of dual education and cooperation with the business community of Pančevo. These benefits will surpass all our costs because new jobs bring economic development, growth of GDP and improve the quality of life and work for our citizens”, said Mr. Saša Pavlov, Mayor of the City of Pančevo.